The Federal Reserve Bank of the United States is a private corporation with a federal charter, as are all national banks. It is different from a normal bank in that it was created by Congress with certain governmental powers. It has only the powers that the creating legislation gives it.
Those powers in theory can be changed at any time by Congress. Technically, the "Fed" is owned by its shareholders, its member banks. They own stock in the Fed just like you can buy stock in say, General Electric.
You cannot however buy stock in the Fed. Only its member banks can buy the stock and the amount they purchase is not optional. Each bank must buy fed stock in a par amount equal to a certain percentage of the member bank's capital stock.( Note that the member bank's capital stock is only a part of the "capital" being discussed in the news.) This Fed stock is not transferable and there is no market for it.
Then can never sell it. The member banks receive a fixed dividend of 6% of the par value of their Fed stock. For complete details, on the Fed, see ( Loads very slowly, be patient.
) http://www.federalreserve.gov/pf/pdf/pf_1.pdf So who owns the Fed? Although it is set up like a private corporation and member banks hold its stock, the Fed owes its existence to an act of Congress and has a mandate to serve the public.So the most accurate answer may be that the Fed is "owned" by the citizens of the United States in the same manner that they "own" the national parks and the White House. One of the services the Fed provides is gathering and compiling MASSIVE amounts of financial and economic data all of which is available to the public.
See: http://research.stlouisfed.org/fred2.
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